Topic: Never Marry a Coin/Project - Practically Example (Read 611 times)

Dogecoin has already established its community so I don't think it will easily become a shitcoin knowing it has been the most profitable crypto coin way back then. Not because Elon has completely influenced and hyped Dogecoin, but because the long term investors have seen it coming that Dogecoin has something to hold onto that they don't get to see and experienced from other crypto coin. It's like Dogecoin becomes the biggest competitor of bitcoin when it was still on top of the market.

this often happens, we can never underestimate the importance of taking profits. its like a watchword that is always being said everywhere that people shouldnt borrow money to invest or invest what you cant afford to lose. i know its not everyone that abides by this but its a very important thing to note. for this guy, he got some early luck because it didnt take long to make good profits. maybe he was aiming to make like 100m$ or more. i beleive he has learnt his lessons and other people will also learn as well.

I hadn't heard of this case before; it's truly mind-blowing how greedy his motive was. He invested $250,000 and managed to yield over $3,000,000 in less than 3 months, yet he decides to stand there and wait for Doge to reach $1. Not only that, but he was also seeing his money lose value and didn't have a stop-loss strategy in which he could potentially have sold at $2,000,000, which is still a great amount of money that the majority of us will never see in our entire lives. Now he has married his doge in hopes that it'll recover, when he could have also kept some if he was so confident that it'd reach the price of a dollar per coin.

And indeed, if he had invested in Bitcoin or even Ethereum, he'd still have over 1/3 of his total investment. I doubt that Doge will ever recover to its ATH, since Elon Musk was to blame for that hype.

The only time that they would really be making some in depth research is on the time that they are already experiencing loses or problems towards their investment on which they should have done that earlier or

before they have decided on making out some investment and this is something that you shoudl consider on doing it first before making further step. Just like you have stated that majority will really be only
making out such step on the time that they are losing money. Never ever mary a coin or would be holding up for long term unless if its BITCOIN but not really that totally be worth of if we do speak about
some altcoins specially memes. Just like the rest been saying that it would be always ideal that you should really be that set up some selling points on when you would really be doing such thing.
You cant really just make yourself do rush on making up decisions specially if you havent done any proper research or something.

In such an investment of the investor he may say that his life has no gain or loss because his life is a loss. At first his investment made profit but he kept his investment hoping for more profit but later his investment never brought him any good. But here he showed extra greed, because during the period when he saw the value of his invested coins going down, he should have sold his investment. If he had sold his investment at that time and invested in another coin, he might have lost. The situation did not come to such a level. It is now very difficult for him to recover the amount of money he has lost.

Greed doesn't always come when you are not happy or satisfied with the results, but it often surrounds your mind when you already have got some wins but you want to get more because you feel if you could get this much, you can also get more but that's just a misconception and it barely works.

A lot of people learn from their mistakes but a lot of them don't, they simply forget what happened last time when they get another opportunity and they become greedy once again and I don't blame them, it's not easy to control greed.

On very rare occasions, your greed might actually make you gain more success, but it is usually not necessary because greed is an emotion that is felt only when you have already reached a certain level of success, and people need to learn to be happy with the initial success instead of getting greedy.

Ancient wise people once said, never put your money in one basket. never buy coins or tokens because of people's fomo, and don't trust anyone in the crypto world, it could be that your money becomes a liquidity exit for people who buy at lower prices.

Many investors are like that, investing without much knowledge of what they're getting into and believing it's the right investment where they can profit. Well, we have our own preference on what coins to buy regardless of if it has a use case or just a coin existing because of hype and the community believing it's a gem. Though we can't please everyone to invest in the particular coin since it's more worthy, it's their decision to take risk on what they believe is the best to hold. If they made a mistake that's often the start for them to realize everything.

Nevertheless, it's good if you're firm with your decision to keep holding especially if the coin has a real use case. However, don't be greedy, sell if the price is decent enough to take profit otherwise you might regret not selling when the price move downward and takes a long time to recover again.

Each person does have different mindset on which they would be setting out different goals or targets and if he is really that believing that DOGE would reach out a buck then for sure he's still holding doge worth of coins and not able to convert those into Bitcoin or stable coin which it would really be leaving out that kind of regret which you would really be always thinking of it specially if it did reach out $3M+ profits then this is something that you can easily just forget because it would really be instilling into your mind that what if you have able to sell out on that peak? For sure you are really that cherishing and buying all the thing that you do like without having those regrets because it do came from profits.

Unlike on the situation now on which you have seen those potential profits but ending up much lesser on the capital that you had entered then its really a double kill kind of feeling on which it would really be
just that a normal reaction that you would really be punching up something just to ease that kind of disappointment towards yourself. There are people who do easily move on and wait for long and willing to do so but in overall you cant really just have other option to take but to hold for another cycle but we should really be baring up into our minds that there's no assurance that DOGE or any coins
would really be going back into those all time highs that they had before. It would really be still depending or according into the community demand and recognition in the end.

Greed and optimism are only slightly different - but greed should be avoided as much as they can be if altcoins are the assets they hold. $3M was worth 43.47 btc at its highest price - so maybe the guy would still have $1,139,130 ^{​​[current price]} if he actually converted it to btc at that time. Expecting $1 for the current price of Doge is possible - but he may not realize that he needs to take profit by selling 50% of his assets and keeping the other 50% to sell higher.

Greediness comes when you are not happy with your actual win as a result of which everything become difficult to handle when the situations become altered. A man always plans in trading and investment and set a limit but when greediness comes then there is no value of planning and limits.

Greed is a bad thing therefore whenever you earned any amount so be careful about them and when you loss then visualize the fact that this occasion of losing money posses the power to teach you a lesson to not repeat these faulty actions again.

A person cannot be successful until he understands that how bad is this greed that it totally change your success into unbearable defeat. A successful person don't think emotionally because he knows that emotion cannot help him but it can have adverse consequences on the winning percentage.

This happens when those that invest in a coin do so without an express purpose, if you buy a coin then at the back of your mind you need to have a price at which you would like to sell, and once it is reached you need to pull the trigger and sell some of it.

In the case of the example given by the OP, it should have been the easiest thing in the world to sell part of your holdings as the price of dogecoin was increasing, and while this strategy would not have brought the maximum profit of 3 million, it could have easily brought 1 or even 1.5 millions in profits, which is more than enough to change the life of anyone for the better, instead of losing money by holding too long which is what happened here.

If he is still holding his Dogecoins then I believe he will get more than $3 million in the year 2025 or early 2026. But that is a big if. This really reminded me of my coins which I started to purchase from 2016 to 2017. My portfolio became huge and life-changing during the 2017 bitcoin and altcoins ATH but I decided to hold almost all of it. Then came the bear season, I thought I could manage to hold them but I started to become worried that it might be the end of crypto. In the end, I sold them all at the cheapest levels since I can only remember selling my bitcoins regularly from the $3k+ to $4k+ range.

But it really makes sense to never marry a coin. At least sell part of them when the profit is already big so there are no regrets when the time comes its prices drop hard.

       -  Besides what you said, Dogecoin is one of the pioneering altcoins in this business industry. I'm not even in this field yet, but Dogecoin is here, and it has a big community in the crypto space, and it got even stronger when Elon Musk supported it.


Bitcoin is really the main good long-term investment that can give us a good profit if you have a lot of holdings of it in your wallet, and there are other altcoins that also have a lot of potential in the market. Just be wise when choosing a crypto investment.

You're right, the biggest decision to ever made when making investment in cryptocurrency is to take profits and use the interest or together with the capital on thesame investment and reinvested back but in this case, bitcoin is the only digital asset we can be bouyant about that will not fail us when we invested in it even with our entire asset of investment, while taking the profits and reinvesting the capital back is just to cut short the probability to loss at anytime.

In my opinion, whether you are making a short-term investment or a long-term investment, you should always book your profit, otherwise the market will book its own profit.our main goal is to get a good profit, now if we invest $100k and after a long or short period of time we get from $100k to $2million, and we get 20x  profit. We should not look at whether it happened in the long term or in the short term, we should be objective with our profit.

If we had left our profit target and waited longer, and the market had continued to fall below the $2 million profit, our capital would have gone from $2 million to $10k, turning our profit into a loss. Think for yourself how much damage we have done.If we sell at a good profit and buy again when the coin price falls, you can imagine how big a mistake we made, if we get that profit again in the long term or short term.Doge Coin cannot be compared to Bitcoin because, like Bitcoin, there are many coins out there today that cannot be compared to Bitcoin. The second most important thing is that I don't see any particular use for Doge Coin, it just keeps going up and down because of Elon Musk. If Elon Musk exits Doge coin, it will die on its.

Yeah, better like that when you're just going to stick with Bitcoin but it won't also be a big problem when you try to explore into altcoins.
But we all know that many of them aren't worth the shot and that's why if you're confident with Bitcoin, you better stay on it.
And if you're going to explore with various altcoins because of what you're seeing on social media or with what your friends does, DYOR and never buy just because of them.

I agree with you, we used to ridicule Dogecoin as a shitcoin, a farce, without value, but what it has achieved today is something we cannot deny. I believe that it will even survive and grow even without Elon because it has existed for a long time and always had a strong community supporting it before Elon used it as a tool to hype. Honestly, if we compare the safety level except bitcoin and ethereum, I even believe that Doge will be safer than BNB, XRP or any other altcoin.

We don't know how much hype it will get in the next bull season but it will never die even if Elon stops toying with it.

I think people just believe it is their right to make profit in any investment , they go into wrong investment and have much expectation on it. The cause of all this problem is that people just want to make money by all mean by not making research to know which investment better and that has value in the market. The lack of understanding,  put money as the priority is what makes people fall into wrong investment .

This would apply to those trends that gone short-lived but I think Dogecoin will not die down that easily, it's one of the true decentralized coin that still exist today alongside with Bitcoin. For a trader perspective his conviction could be mocked but for those investors alike that thinks long term I'm sure he would be hailed as a legend. It's all about perspective and I think he knows the risks involved. Just my two cents.